diff --git a/ihatemoney/forms.py b/ihatemoney/forms.py
index 3bbe34a5..7839a5d9 100644
--- a/ihatemoney/forms.py
+++ b/ihatemoney/forms.py
@@ -113,7 +113,11 @@ class EditProjectForm(FlaskForm):
     project_history = BooleanField(_("Enable project history"))
     ip_recording = BooleanField(_("Use IP tracking for project history"))
     currency_helper = CurrencyConverter()
-    default_currency = SelectField(_("Default Currency"), validators=[DataRequired()])
+    default_currency = SelectField(
+        _("Default Currency"),
+        validators=[DataRequired()],
+        default=CurrencyConverter.no_currency,
+    )
 
     def __init__(self, *args, **kwargs):
         if not hasattr(self, "id"):